Smartphone shipments across the globe are forecast to rise 3% this year, according to a report from Counterpoint Research, thanks to easing inflation that’s helping recovery in emerging markets, as well as generative AI integration that consumers desire in premium devices. In 2023, global shipments decreased more than 4%.
The budget smartphone segment—referring to devices costing between $150 and $249—also shrank in 2023, but is expected to grow 11% this year due to increasing demand in Latin American and Caribbean regions. The potential growth will also be boosted by increased competition between companies in China.
Phones priced between $600 and $799, the premium segment, are predicted to grow 17%, with Apple and Huawei, its Chinese competitor, likely to be the main beneficiaries of that growth. Counterpoint Research estimated previously that competition from Huawei resulted in a 24% decrease in China’s iPhone sales during the first six weeks of 2024.
